EAGLE POINT CR/COM (NYSE:ECC) Plans Monthly Dividend of $0.20

EAGLE POINT CR/COM (NYSE:ECC) declared a monthly dividend on Tuesday, April 2nd, Wall Street Journal reports. Investors of record on Monday, May 13th will be given a dividend of 0.20 per share by the investment management company on Friday, May 31st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.48%. The ex-dividend date of this dividend is Friday, May 10th.

EAGLE POINT CR/COM has increased its dividend by an average of 0.7% annually over the last three years. EAGLE POINT CR/COM has a dividend payout ratio of 142.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect EAGLE POINT CR/COM to earn $1.68 per share next year, which means the company may not be able to cover its $2.40 annual dividend with an expected future payout ratio of 142.9%.

Shares of NYSE ECC traded down $0.68 during mid-day trading on Wednesday, reaching $16.58. 1,320 shares of the company traded hands, compared to its average volume of 115,321. The firm has a market capitalization of $409.98 million, a PE ratio of 10.90 and a beta of 0.58. EAGLE POINT CR/COM has a fifty-two week low of $12.16 and a fifty-two week high of $18.87.

EAGLE POINT CR/COM (NYSE:ECC) last posted its quarterly earnings data on Thursday, February 21st. The investment management company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The company had revenue of $17.75 million for the quarter, compared to analysts’ expectations of $18.20 million. Analysts forecast that EAGLE POINT CR/COM will post 1.66 EPS for the current year.

A number of equities research analysts have issued reports on ECC shares. LADENBURG THALM/SH SH lowered shares of EAGLE POINT CR/COM from a “buy” rating to a “neutral” rating in a research note on Friday, February 22nd. National Securities restated a “buy” rating and set a $24.00 price target on shares of EAGLE POINT CR/COM in a report on Sunday, February 24th. Finally, ValuEngine upgraded shares of EAGLE POINT CR/COM from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.00.

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Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.

Further Reading: Yield Curve

Dividend History for EAGLE POINT CR/COM (NYSE:ECC)

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